Yep that's how you do it. The same goes for Mail programs also. You change the default in Mail. Has to be about the most "Microsoftian" type thing Apple has done in their OS. Really they should just have some kind of system preference for it instead.

Another thing I've noticed is that you can change the preferences through the Omniweb browser if you have that. So apparently this is an applicable preference you can put into any browser. By the way, is there anyway we could like, change the title of this to make it more apparent (Default web browser) or something, and put it as a sticky? I've seen this question asked more times than I can count, and I specifically remember asking this question on these very forums when I got my iBook a couple months ago.